AIA Group Ltd Raises Position in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• AIA Group Ltd increased its stake in Arrow Electronics by 87.8% in the first quarter, acquiring 2,918 shares and bringing its total holdings to 6,240 shares valued at approximately $648,000.
• Arrow Electronics reported impressive quarterly earnings of $2.43 per share, exceeding expectations by $0.40, and its revenue reached $7.58 billion, marking a 10% increase compared to the previous year.
• Wall Street analysts currently have a consensus rating of "Hold" on Arrow Electronics stock, with target prices ranging from $105.00 to $115.75.

AIA Group Ltd grew its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 87.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,240 shares of the technology company's stock after purchasing an additional 2,918 shares during the quarter. AIA Group Ltd's holdings in Arrow Electronics were worth $648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Operose Advisors LLC acquired a new position in Arrow Electronics during the 1st quarter worth about $31,000. Golden State Wealth Management LLC raised its holdings in shares of Arrow Electronics by 111.7% during the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after acquiring an additional 200 shares during the period. Covestor Ltd increased its holdings in Arrow Electronics by 14.9% during the 1st quarter. Covestor Ltd now owns 1,118 shares of the technology company's stock worth $116,000 after purchasing an additional 145 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Arrow Electronics during the 1st quarter worth about $120,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Arrow Electronics by 300.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company's stock worth $161,000 after buying an additional 1,163 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Stock Down 1.7%

Shares of ARW stock traded down $2.09 on Friday, reaching $123.77. 311,510 shares of the company were exchanged, compared to its average volume of 539,667. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.59 and a beta of 1.10. The company has a 50-day moving average of $126.37 and a 200-day moving average of $115.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.07. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.40. Arrow Electronics had a net margin of 1.64% and a return on equity of 8.37%. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the business posted $2.78 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research report on Monday, June 9th. Wall Street Zen raised shares of Arrow Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Arrow Electronics has an average rating of "Hold" and a consensus price target of $115.75.

Insider Transactions at Arrow Electronics

In other news, CEO Sean J. Kerins acquired 8,630 shares of the firm's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $114.91 per share, for a total transaction of $991,673.30. Following the purchase, the chief executive officer owned 122,408 shares in the company, valued at approximately $14,065,903.28. This represents a 7.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the completion of the sale, the senior vice president owned 17,057 shares of the company's stock, valued at approximately $2,125,984.48. This trade represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.